FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $3.55 Million Position in The Boeing Company (NYSE:BA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in The Boeing Company (NYSE:BA - Free Report) by 18.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,840 shares of the aircraft producer's stock after purchasing an additional 3,230 shares during the period. Boeing accounts for about 0.9% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's portfolio, making the stock its 25th biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Boeing were worth $3,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC bought a new stake in shares of Boeing in the 4th quarter valued at about $201,000. Allspring Global Investments Holdings LLC grew its position in shares of Boeing by 38.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 98,456 shares of the aircraft producer's stock valued at $16,922,000 after buying an additional 27,366 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Boeing in the 4th quarter valued at about $7,837,000. Nations Financial Group Inc. IA ADV grew its position in shares of Boeing by 88.9% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,639 shares of the aircraft producer's stock valued at $1,352,000 after buying an additional 3,594 shares during the last quarter. Finally, Ellis Investment Partners LLC grew its position in shares of Boeing by 10.2% in the 4th quarter. Ellis Investment Partners LLC now owns 2,907 shares of the aircraft producer's stock valued at $515,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BA. Susquehanna reiterated a "positive" rating and issued a $240.00 price target (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research note on Thursday, May 22nd. Sanford C. Bernstein raised Boeing from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $181.00 to $218.00 in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Finally, Melius raised Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.85.

Boeing Stock Down 1.7%

BA stock opened at $200.21 on Monday. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $218.80. The stock's 50 day moving average is $188.93 and its 200-day moving average is $177.11. The firm has a market capitalization of $150.96 billion, a PE ratio of -10.93 and a beta of 1.43.

Boeing (NYSE:BA - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. During the same quarter in the prior year, the business earned ($1.13) EPS. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president now directly owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of Boeing stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,744 shares of company stock worth $1,511,370. 0.09% of the stock is owned by company insiders.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.

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